EPFO says 4 million jobs added in 8 months till April, but how reliable is it?

EPFO
EPFO says 4 million jobs added in 8 months till April, but how reliable is it?

Citing payroll data of the EPFO (Employees’ Provident Fund Organisation), the Central Statistics Office (CSO) has said that up to 41.26 lakh new jobs have been created in the eight months till April 2018 – with 6.85 lakh jobs being created in April alone.

Covering the period from September 2017 to February 2018, the CSO had presented the first release of employment-based statistics in the formal sector in April 2018. In a similar data release, including the data for the month of April, the EPFO data suggests that during September 2017 to April 2018, as many as 41,26,138 payrolls were created. In April 2018 alone, a total of 6,85,841 new payrolls were registered by the EPFO. As per the data, the EPFO’s numbers for April have been the highest since the last eight months, thereby leading to the creation of more jobs than the previous seven months.

In the month of April, a maximum of 1,78,221 new payrolls was recorded in the age bracket of 18 to 21 years, while 1,80,892 payrolls were recorded for the age bracket of 22 to 25 years.

Although EPFO data suggests the introduction of new payrolls, which in turn translate into new jobs, the data might not be fully useful. This is because the data does not consider several aspects affecting employees and their jobs.

Source: QURIS

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